GlobalFoundries (NASDAQ:GFS) Stock Price Breaks Below 50 Day Moving Average - Here's What Happened

GlobalFoundries Inc. (NASDAQ:GFS - Get Free Report) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $46.64 and traded as low as $45.18. GlobalFoundries shares last traded at $46.11, with a volume of 5,430,419 shares traded.

Analysts Set New Price Targets

GFS has been the subject of several analyst reports. Morgan Stanley reaffirmed a "negative" rating and set a $60.00 target price on shares of GlobalFoundries in a report on Thursday, August 6th. Wedbush reiterated a "neutral" rating and issued a $72.00 price target on shares of GlobalFoundries in a research report on Thursday, October 15th. Stifel Nicolaus began coverage on GlobalFoundries in a research note on Tuesday, September 1st. They issued a "buy" rating and a $60.00 price target on the stock. Robert W. Baird set a $140.00 price objective on GlobalFoundries in a report on Thursday, August 6th. Finally, BNP Paribas Exane downgraded GlobalFoundries from an "outperform" rating to a "neutral" rating and set a $51.00 price objective on the stock. in a report on Monday, October 5th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $75.79.

GlobalFoundries Stock Down 1.3%

The business's 50-day moving average price is $46.64 and its 200-day moving average price is $54.88. The company has a quick ratio of 1.74, a current ratio of 2.48 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $25.30 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.77.

GlobalFoundries (NASDAQ:GFS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. GlobalFoundries had a net margin of 10.36% and a return on equity of 6.69%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. GlobalFoundries has set its Q3 2026 guidance at 0.460-0.560 EPS. As a group, equities research analysts predict that GlobalFoundries Inc. will post 1.48 EPS for the current fiscal year.

Insider Activity at GlobalFoundries

In other news, insider Pradheepa Raman sold 6,760 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $51.12, for a total transaction of $345,571.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,590 shares of company stock worth $621,855.

Institutional Trading of GlobalFoundries

Several hedge funds and other institutional investors have recently modified their holdings of GFS. Oppenheimer & Co. Inc. lifted its stake in shares of GlobalFoundries by 93.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,916 shares of the company's stock valued at $379,000 after purchasing an additional 3,821 shares during the last quarter. Deltec Asset Management LLC bought a new stake in GlobalFoundries in the third quarter worth $2,899,000. Signaturefd LLC increased its position in GlobalFoundries by 22.3% during the third quarter. Signaturefd LLC now owns 1,370 shares of the company's stock worth $66,000 after buying an additional 250 shares during the last quarter. SBI Securities Co. Ltd. increased its position in GlobalFoundries by 50.8% during the third quarter. SBI Securities Co. Ltd. now owns 3,416 shares of the company's stock worth $164,000 after buying an additional 1,151 shares during the last quarter. Finally, Net Worth Advisory Group increased its position in GlobalFoundries by 41.8% during the third quarter. Net Worth Advisory Group now owns 4,994 shares of the company's stock worth $243,000 after buying an additional 1,472 shares during the last quarter.

GlobalFoundries Company Profile

GlobalFoundries Inc NASDAQ: GFS is a semiconductor manufacturer that operates as a contract foundry, producing chips designed by other companies. The company provides wafer fabrication and related services for customers in the automotive, communications infrastructure, aerospace and defense, industrial, and consumer electronics markets.

GlobalFoundries specializes in differentiated semiconductor technologies rather than competing primarily in the most advanced logic-processing nodes. Its offerings include radio-frequency and silicon-on-insulator technologies, embedded memory, power-management solutions, high-voltage processes, silicon photonics, and other specialty platforms used in connectivity, sensing, automotive electronics, and edge-computing applications.

The company was established in 2009 through the separation of Advanced Micro Devices' manufacturing operations, with investment from the Abu Dhabi-based Advanced Technology Investment Company.

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